Livewire Exploration Watch
88 Energy has reported a hydrocarbon saturated liquids-rich accumulation within a porous, thick sequence from its Alaskan onshore Icewine 1 well. Analysis of core has met and in some cases exceeded expectations. The 11,600 feet well drilled in December targeted an extensive unconventional resource of prospective Brookian-age shale located close to the Trans Alaska pipeline. Emu NL reported an intersection of iron altered and broken limestone within a geophysical anomaly at its Speedway prospect in Utah from a single 1,687 feet vertical diamond drill hole. The intersection lacks the iron sulphide assemblage associated with the large scale Carlin style precious metal systems being sought suggesting the absence of commercial mineralisation. St George Mining is planning a diamond drilling program at its Mount Alexander properties west of Leonora in WA in the coming month. The properties have been previously evaluated by Western Areas and BHP. The latter drilled five holes including one resulting in a discovery of 4 metres at 4.9% Ni, 1.7% Cu and 3.9 g/t PGE from 91.4 metres. Other mineralised intersections were reported at 56.3 and 60 metres.
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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